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." but he and house speaker john boehner both insisted they'd hold firm on whether or not to raise taxes on the wealthy. here are excerpts from the president's first comments on the subject since his victory tuesday night. he spoke to a crowd of supporters in the east room of the white house. >> as i said on tuesday night, the american people voted for action, not politics as usual. you elected us to focus on your jobs, not ours. and in that spirit, i've invited leaders of both parties to the white house next week so we can start to build consensus around the challenges that we can only solve together. last year, i worked with democrats and republicans to cut a trillion dollars worth of spending that we just couldn't afford. i intend to work with both parties to do more, and that includes making reforms that will bring down the cost of health care so we can strengthen programs like medicaid and medicare for the long haul. i've put forward a detailed plan that allows us to make these investments, while reducing our deficit by $4 trillion over the next decade. i want to be clear-- i'm not
fearing that whatever they do to help him will actually help him get re-elected. john boehner has 230-plus members, but 230-plus members that were re-elected because they didn't compromise. i think what we're seeing is they set up their public positions and then they'll have to do the real work behind the scenes. they're posturing things they know they have to move off of. there's been some warning in terms of whether tax rates go up. the president talked about revenue which is important because if you sa have a come prea hencive tax field you can get the new money by getting rid of some the deductions and the loopholes. so they are finding ways an they might raise $250,000. there are ways you can find a deal here. >> how much of this is the short-term especially is everybody trying to figure out what they can get away with? i've been where one side or the other say let's get together. and they be they find out, oh, may we don't have to. >> both sides are trying to present themselves as the most reasonable guy in the room. >> that's exactly what boehner said. >> exactly. i'm quoting here.
tonight compared to a week ago. >> reporter: while president obama and house speaker boehner both say they're open to new ideas, wall streeters remain cautious about the fiscal cliff. meridien equity partners' joe greco says the market doesn't expect it to be resolved this year. >> i think we're going to see a push pull back and forth and we're probably not going to see much compromise until mid to late january. if we don't get things in order by february that's when things can start to get ugly for the markets. >> reporter: with so much short- term risks, greco says retail investors are sitting on the sidelines until congress and the president reach consensus on the fiscal cliff. he says today's buyers were mostly institutional investors. >> you're going to see the bulk of volume just sit it out. because that has been what's worked in the past. if you have a position already it's probably a longer range view in which case no reason to mess around with it in the intermediary push pull. >> reporter: greco says the cliff isn't the market's only challenge. there's still europe's debt crisis a
year. that came after talks broan down between the president and house speaker john boehner. senator collins told the newshour today that she's optimistic lawmakers can still strike a deal and stave off the spending cuts. >> so this has to be done carefully. i think the president's right that -- and i've said this for a long time -- that we have to look at both revenues and spending. but there needs to be compromise on both sides. >> woodruff: but mcconnell said the president needs to put a proposal on the table if any agreement is going to pass. >> the time for the president to lead is now. that means offering a concrete plan that takes into account the fact that half the congo poses tax hikes. >> woodruff: on the democratic side house minority leader nancy pelosi rejected calls by some in the party who have argued for letting the country go over the cliff to get a better deal. >> i want you to be disabused of any notion that there's any widespread thought that it would be a good as a country for us to go over the cliff. we want an agreement. we want an agreement. >> woodruff: law m
think we're right back-- it's the point you were just raising, the second term-- john boehner can turn around-- they man a bit chastened right now, but 235 house republicans were also re-elected, so i don't know why the-- why the washington environment is a whole lot different. >> the other thing the president said was i'm not up for reelection again. so they look ahead, they see 2010 and think if taxes do go up for the middle class, it will be john boehner, and the republicans to take the blame. >> well, that may be but who is it going to play that kind of bluffing game with the debt ceiling because that's when you really risk tremendous market reactions and peril. i know you talked about david petraeus, and the whole foreign policy issue last night on charlie, martha, but do you-- let me ask you again, do you take seriously the notion that john kerry could be defense secretary? >> i think that was a trial balloon. >> you do? >> i 19, clearly both of those stories were trial balloons. president obama, obviously, took it a little further, quite a bit further today talking about susan r
a tax increase. if speaker boehner says i'll go along with that, that's where we'll start. i think the conversation is under way for a solution. >> ifill: senator durban, are you kicking the can down the road by only talking about the tax ruts and not talking about the spending cuts as well? >> let me tell you something, i was on the bowles simpson commission, i voted for it, bipartisan commission that included spending cuts as well as revenue increases. i know that to reach four or five trillion dollars in deficit reduction you need to put everything on the table. not just taxes for the wealthy. that's an important piece of it, but it isn't all of it. you need much more. >> the president said today in his news conference that he was very familiar with the literature on the overreach of presidents in their second term or their potential for overreach. do you think that's a possibility here? do you see that? we have heard, for instance, republicans say, hey, we can talk about immigration now. is it possible that some things actually are in reach? >> oh, i do think -- i think immigra
engaged and motivated to keep making the case. now, i do think that speaker boehner did say that he was open to new revenue, it is an open question about how many folks in this caucus will be. there are a lot of republicans, tom coburn, the rock-ribbed conservative senator from oklahoma has also been very open about it. so i think that you are seeing some people who are very firmly on the political right who are saying that, "look, we're willing to give an inch on revenues if we can also make some reforms on the spending side." >> i think we're missing the point when we look at the political parties. we should keep our eye on what's happening to working families. and working families have been hurting since at least the 1970s. and they've been hanging on by, you know, one manner or another that is really not fundamental. the fundamental way families make money is through work and savings and buying a home and accumulating wealth. but what's been happening is that first you had wives and mothers that went into the workforce. now, ultimately this was a good thing for women to be in th
Search Results 0 to 8 of about 9 (some duplicates have been removed)

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